Alliancebernstein L.P. Cuts Stock Holdings in Carlisle Companies Incorporated $CSL

Key Points

• Alliancebernstein L.P. reduced its holdings in Carlisle Companies by 70.4%, selling 138,843 shares and now owning approximately 0.14% of the company valued at about $19.9 million.
• Institutional investors currently hold 89.52% of Carlisle Companies' stock, with several firms increasing their positions in the first quarter, including GAMMA Investing LLC which surged its holdings by 38,164.5%.
• Carlisle Companies' shares recently traded down 1.1%, with a market capitalization of $16.15 billion, and the company reported an EPS of $6.27 in its latest quarterly earnings, missing estimates by $0.40.

Alliancebernstein L.P. reduced its position in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 70.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,514 shares of the conglomerate's stock after selling 138,843 shares during the period. Alliancebernstein L.P. owned about 0.14% of Carlisle Companies worth $19,924,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CSL. Dagco Inc. purchased a new stake in shares of Carlisle Companies during the 1st quarter worth $27,000. MAI Capital Management lifted its position in shares of Carlisle Companies by 37.8% during the 1st quarter. MAI Capital Management now owns 124 shares of the conglomerate's stock worth $42,000 after purchasing an additional 34 shares during the last quarter. CX Institutional purchased a new stake in shares of Carlisle Companies during the 1st quarter worth $49,000. Wayfinding Financial LLC purchased a new stake in shares of Carlisle Companies during the 1st quarter worth $55,000. Finally, Allworth Financial LP lifted its position in shares of Carlisle Companies by 32.8% during the 1st quarter. Allworth Financial LP now owns 170 shares of the conglomerate's stock worth $58,000 after purchasing an additional 42 shares during the last quarter. 89.52% of the stock is owned by hedge funds and other institutional investors.

Carlisle Companies Stock Performance

NYSE CSL traded down $27.39 during trading on Friday, reaching $364.67. The company's stock had a trading volume of 915,813 shares, compared to its average volume of 344,758. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.19. The firm has a market cap of $15.59 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.26 and a beta of 1.05. Carlisle Companies Incorporated has a twelve month low of $311.41 and a twelve month high of $481.26. The business's fifty day moving average price is $391.72 and its 200-day moving average price is $372.94.

Carlisle Companies (NYSE:CSL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The conglomerate reported $6.27 EPS for the quarter, missing analysts' consensus estimates of $6.67 by ($0.40). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. Carlisle Companies had a net margin of 16.12% and a return on equity of 38.16%. The company's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.24 earnings per share. As a group, analysts anticipate that Carlisle Companies Incorporated will post 22.31 EPS for the current fiscal year.

Carlisle Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a $1.10 dividend. This is a boost from Carlisle Companies's previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, August 19th. Carlisle Companies's dividend payout ratio (DPR) is presently 24.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Loop Capital cut shares of Carlisle Companies from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $430.00 to $395.00 in a research report on Thursday, July 31st. JPMorgan Chase & Co. initiated coverage on shares of Carlisle Companies in a research note on Tuesday, June 24th. They set an "overweight" rating and a $500.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Carlisle Companies from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Carlisle Companies currently has a consensus rating of "Moderate Buy" and a consensus target price of $450.83.

Carlisle Companies Company Profile

Carlisle Companies Incorporated operates as a manufacturer and supplier of building envelope products and solutions in the United States, Europe, North America, Asia and the Middle East, Africa, and internationally. It operates through two segments: Carlisle Construction Materials and Carlisle Weatherproofing Technologies.